Radix, a decentralized finance entity that specializes in Web3 development, has made an exciting announcement. It has launched a new project called the “Radix Foundry Program,” which aims to incubate decentralized applications in high-potential groups to drive growth in on-chain activity and user engagement. The company shared the news on its official X account.
The Radix Foundry Program is designed to support dApps in various categories and encourage significant growth in users and on-chain activity within the Radix ecosystem. Teams that participate in the program can receive funding of up to $250,000 to bring their visions to life. [img]
To provide more details about the project, Radix also published a blog post alongside the announcement on X. The post highlighted the significant value locked by various entities within nine months of the Babylon upgrade. It mentioned decentralized exchanges like DeFi Plaza, Ociswap, and money markets like WEFT, which have collectively accumulated a total value locked (TVL) of over $30 million.
Additionally, decentralized apps such as XRD Domains, Trove, and ShardSpace offer exceptional experiences for Web3 users. Meme tokens like Hug and Early have also attracted more users to the Radix ecosystem. Building on these successes, Radix is now introducing the Radix Foundry to further incubate dApps in high-potential categories.
According to the platform, this development has the potential to drive significant user growth, on-chain activity, and TVL. The projects participating in the Radix Foundry Program will receive technical, business, and marketing support. Furthermore, RDX Works will provide funding of approximately $250,000 to the participants.
The new project aims to fulfill various user requirements. Radix identified four primary objectives shared by crypto consumers: holding and sending value globally, accessing liquid markets for token trading, earning profits on capital, and engaging in entertainment activities. To meet these demands, the Radix Foundry is inviting proposals from projects in several categories, including liquid staking and restaking, stablecoins and collateralized debt positions, launchpads, NFT professional trading, yield derivatives, real-world assets, and borrowing and lending money markets.
